Yahoo is cutting as much as 20% of its staff, joining other media platforms in pulling in costs as digital advertising growth slows.
A restructure will see Yahoo Business transformed into Yahoo Advertising.
News site Axios, the first to report the layoffs, says the cuts will impact more than 50% of Yahoo's ad tech employees, about 1,600 people.
Axios reported: “In an interview, Yahoo CEO Jim Lanzone stressed that the layoffs are not attributable to financial challenges, but rather, strategic changes to the company's Yahoo for Business advertising unit, which is not profitable.”
Yahoo has been owned by private equity group Apollo since 2021.
News corp on Friday announced 5% staff cuts in response to challenging economic conditions.
Major digital platforms Google and Meta are also shedding staff.
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